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Thursday, 1 October 2020

Diplomacy + Foreign Trade on 1 October 2020

Topping trade news this morning: QIZ exports fall in 1H2020: The value of goods exported from Egyptian qualifying industrial zones (QIZs) fell almost 25% during the first half of the year compared to 1H2019, according to Trade Ministry figures. Some USD 357 mn of goods were exported during 1H2020, down from USD 472 mn in the same period last year, head of the Trade Ministry’s QIZ unit Ashraf Rabie said yesterday. Readymade garments and textiles made up 97% of the exports, while the export of glass products increased by 137.5%, from 1.6 mn to 3.8 mn y-o-y. Egypt signed the QIZ agreement with Israel and the US in 2004, allowing participating companies to enjoy access to the US market without tariffs provided their products meet a minimum required amount of Israeli content.

Jumia and Talaat Moustafa Group, along with a number of British retailers, participated in the first retail webinar organized by the UK Department for International Trade and Egyptian British Chamber of Commerce, the British Embassy in Cairo said in a statement yesterday.

SCZone customs rules published: The General Authority of the Suez Canal Economic Zone has published customs rules and procedures for companies operating in the zone, Al Masdar reports, carrying a copy of the regulations as reported in the Official Gazette on Monday.

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